Latest Current Affairs For Saturday 13th August, 2022

Kotak Mahindra Bank launches lifestyle-focused corporate salary account

Kotak Mahindra Bank has launched a lifestyle focused salary account named Kotak Creme.

This account will offer an upgraded experience to its customers working in MNCs, retails, law firms, unicorns etc.

The account will be available to all corporates in India and will also come with a host of privileges and rewards across lifestyle, travel, healthcare, dining, skilling and learning experiences.

Kotak Mahindra Bank HQ: Mumbai; CEO Uday Kotak

LG Manoj Sinha inaugurates "UMEED Market Place" under AVSAR Scheme of AAI

Lieutenant Governor of Jammu and Kashmir, Manoj Sinha has inaugurated "UMEED Market Place" under AVSAR Scheme of Airport Authority of India at Srinagar International airport.

A similar Marketplace was also opened at Jammu Airport and both the outlets will exhibit products of all 20 districts.

Aim: To support local art and artisans of Self Help Groups of J&K Rural Livelihood Mission.

The products of Self Help Groups will get exposed to the national market.

Indian American journalist, Uma Pemmaraju passes away

Uma Pemmaraju, an Indian American journalist has passed away at the age of 64.

She was a part of various shows such as The Fox Report, Fox News Live, Fox News Now, and Fox On Trends.

She has been awarded many Emmy Awards in her career for investigative reporting and journalism.

She was also awarded The Woman of Achievement Award by the Big Sisters Organization of America, the Texas AP Award, and the Matrix Award from the Women in Communications for reporting.

Bhavani Devi wins gold medal at Commonwealth Fencing Championships 2022

Indian fencer, Bhavani Devi has secured gold medal in the women’s senior individual sabre category at the Commonwealth Fencing Championships 2022 in London.

She defeated Veronika (Australia), who has settled for silver in the event.

Bhavani Devi hails from Tamil Nadu and was the first Indian fencer to qualify for the Olympics (Tokyo 2020). 

Fencing was recognised by the Commonwealth Games Federation as a sport.

7.3% of Indians owned digital currency in 2021: UN

According to the UN, India's population has owned 7.3% digital currency and ranked seventh in the list of top 20 global economies for digital currency ownership as share of population.

Ukraine topped the list with 12.7%, followed by Russia (11.9%), Venezuela (10.3%), Singapore (9.4%), Kenya (8.5%) and the US (8.3%).

It also been observed that the global use of cryptocurrencies has increased exponentially during the COVID-19 pandemic (including developing countries).

ISRO launched new virtual space museum named SPARK

ISRO Chairman, S Somanath has launched the India's first virtual space museum 'SPARK' for Public use to showcase the digital content related to different ISRO missions in an interactive manner.

SPARK can be accessed through the official website of ISRO or at: https://spacepark.isro.gov.in.

Presently, the space organisation has also launched an application, the beta version of SPARK on their website.

ISRO HQ: Bengaluru; Founded: 15 August 1969; Founder: Vikram Sarabhai

Government revised the Atal Pension Yojana rules

The government of India has made revised the rules of Atal Pension Yojana (APY), will be effective from from October 1, 2022.

No citizen who is or has been an income taxpayer will not be eligible to join the APY.

If an income tax-payer joins the APY scheme on or after October 1, 2022, the APY account will be liable to be closed.

Currently, all citizens of India between the age of 18-40 years are eligible to join the scheme, irrespective of their tax-paying status.

International Youth Day: 12th August

International Youth Day observed annually on 12th August annually to create awareness about the issues faced by youth.

Theme 2022: Intergenerational solidarity: creating a world for all ages

In 1999, the General Assembly has passed a resolution 54/120, and declared 12 August as International Youth Day.

This decision was made after the recommendation made by the World Conference of Ministers Responsible for Youth (Lisbon, 8-12 August 1998).

Election Commission of India hosts virtual Asian Regional Forum meet

The Election Commission of India (ECI) hosted a virtual meet of the ‘Asian Regional Forum’ at Nirvachan Sadan on August 11, 2022.

Theme: “Making our Elections Inclusive, Accessible and Participative

This Regional Forum meet was a precursor to the “Summit for Electoral Democracy'' that to be hosted by the National Electoral Institute of Mexico in the coming month.

Chief Election Commissioner of India: Rajiv Kumar

Latvia and Estonia withdraw from cooperation group

Latvia and Estonia have withdrawn from a cooperation group amid the Western criticism of China over escalating military pressure on Taiwan.

Reason: Both countries will continue to work towards constructive and pragmatic relations with China.

Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, and Slovenia are among countries that remain in the cooperation format.

Latvia Capital: Riga; 

Currency: Euro

Estonia Capital: Tallinn

HM Amit Shah to inaugurate National Conference of Rural Cooperative Banks

Union Home Minister, Amit Shah will inaugurate the National Conference of Rural Cooperative Banks.

It was organized by the Ministry of Cooperation and the National Federation of State Cooperative Banks.

He will also confer Performance Awards to select State Cooperative Banks, District Central Cooperative Banks, or PACS.

The short-term cooperative credit structure in India comprises 34 State Cooperative Banks, 351 District Central Cooperative Banks, and 96,575 PACS. 

NHIDCL, NSDC sign MoU for skill development initiatives

National Highways Infrastructure Development Corporation Limited (NHIDCL) has signed an MoU with National Skill Development Corporation (NSDC).

Purpose: To take up multiple initiatives contributing towards making India the Skill Capital.

Signed by: MD of NHIDCL, Chanchal Kumar and COO & Officiating CEO of NSDC, Ved Mani Tiwari. 

NHIDCL is a fully owned company of the Ministry of Road Transport & Highways.

NSDC is PPP model under Ministry of Skill Development. 

ISRO successfully tests Gaganyaan Low Altitude Escape Motor from Sriharikot

Indian Space Research Organisation has successfully completed the test-firing of the Low Altitude Escape Motor (LEM) of Crew Escape System from Sriharikota, Andhra Pradesh.

Objective: Evaluation of motor ballistic parameters; Validation of motor subsystem performance.

LEM:

It is a distinctive special purpose solid rocket motor.

It has four reverse flow nozzles.

It generates a maximum sea level thrust of 842 kN (nominal) with a burn time of 5.98 seconds (nominal).

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.